Bitcoin was the first cryptocurrency to enter the market. This event took place more than a decade ago ― in 2008. So, over this period, traders and investors had an opportunity to make sure that this asset was substantial enough. Its value and impact keep on growing year after year. Yes, there are certain perturbations from time to time, but the situation recovers stability every time as well.

It is well-known that this crypto is decentralized and cannot be controlled by any governments and banks. Then, how is the Bitcoin price formed? There are 8 factors:

1. Long-term investment volumes. The higher demand, the higher the rate.
2. Short-term trading activity. This crypto is characterized by increased volatility, which allows speculators to make good money from its daily fluctuations. Every day, one can watch billions of bubbles and liquidations in the corresponding charts. That provokes extra fuss and panic, which attracts more traders and pushes the rate higher and higher.
3. Development of decentralized finance. New inventions in the sphere of blockchain contribute to the value of this crypto.
4. Popularization of Bitcoin as a payment means. It is already supported by PayPal, Visa, and Mastercard.
5. Decisions and announcements made by governmental bodies and politicians. Although they cannot have a direct influence on its rate, such news makes a huge fuss.
6. Statements made by celebrities, big businessmen, and influencers. The most commonly known example is Elon Musk.
7. Reductions in refunds paid to miners. Such procedures are predetermined by the code of this crypto. They took place once in 4 years (approximately). And, according to statistics, within 1.5 years after such a reduction, the price of the crypto grows by several times. So, for the latest time, it was executed in May 2020. At that point, the rate was around $10,000. And 1 year later it reached $60,000.
8. Growth of its user base. The more wallets, the higher the value.

Also Read: The Great Bitcoin Scam

In sum, as of now, there is no single opinion on whether the rate of this coin will move upwards or downwards, although there are many proofs in support of the first variant.

Are you considering cryptocurrency trading, but do not know which coins to choose? Or maybe you already have Bitcoins and want to extend your portfolio? In this guide, we will tell you about Ether (Ethereum), which is the second most influential crypto on the market, and explain how to easily buy it online.

As of now, Ether is the second most well-known and liquid cryptocurrency on the market after Bitcoin. Most experts agree that it has a huge potential for growth in price. It is a valuable option for long-term investments for both novice and experienced traders.

So, where and how to buy Ethereum? The procedure is identical to buying any other asset, like currency or stock. Today, it is available for sale on almost every online exchange service.

To choose the most suitable platform, check its license, security measures, assortment of assets, functionality, fee policy, terms of use. Keep in mind that, over some time, you will probably decide to extend your portfolio, so it is better to find a service that offers a full range of popular cryptocurrencies. Also, make sure that the website or app is user-friendly and that you feel comfortable working with it. As for exact names, we recommend you choose from Coinbase, Binance, or Kraken.

Also Read: Popular cryptocurrency- What is Ethereum

Now, let us discuss the procedure:

1. Create an account on the service chosen.
2. Fill in the personal information to pass verification.
3. Make a deposit via a credit card, bank transfer, online wallet, or another available method.
4. Open the “Trade” tab and choose the cryptocurrency needed. Remember that you do not have to buy a whole coin if you cannot afford it ― start from a fraction. Type the sum you want to invest and complete a buy order.
5. After the purchase is made, it is safer to transfer your Ether to a crypto wallet protected by a private key.

Also Read: How to Buy Cardano: Guidelines for Beginners

In sum, Ether is a cryptocurrency with outstanding potential, but it is also characterized by significant volatility like most other cryptocurrencies. So, if you want to earn from it, be sure to constantly watch its price movements and track expert forecasts.